Medifast sales fall 19% as restructuring weighs on third-quarter earnings

Medifast ($MED) reported third-quarter 2026 revenue of $72 million, down 19.4% from a year earlier, as its active earning coach network contracted by 47.7% to 10,200. The company cited difficulties attracting clients, including competition from GLP-1 weight-loss medicines. It recorded a GAAP net loss of $17.5 million, or $1.57 per diluted share; excluding restructuring costs, its adjusted loss was $2.1 million, or $0.19 per share.

Management expects fourth-quarter 2026 revenue of $55 million to $75 million and earnings between break-even and $0.25 per share. Its cost program reduces distribution capacity, software spending and organizational resources to fit lower sales. Cash, cash equivalents and investment securities totaled $172.5 million, with no debt. The projected return to quarterly profitability remains an outlook, while management expects coach numbers to keep declining through year-end.

Sources:

• Issuer release via StockTitan
• Issuer release via Yahoo Finance